Friday, October 3, 2008

Economic Pearl Harbor

What is this "economic pearl harbor" that Warren Buffett is talking about?

Could it be that China and the oil rich countries are threatening to finally pull the plug and stop financing our trade deficit, personal savings deficit and government budget deficit?

Why not? China is playing to win. Despite popular belief, they don't need us to consume their products. They can consume the fruits of their production themselves. They've rope-a-doped us long enough and they are going to surprise us with a knockout punch.

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